MESSAGERIES
MARITIMES
MOM
"BRIANCON"
ARRIVALS
from Haiphong
SAILINGS
PASSENGER/FREIGHT SERVICE
"FELIX ROUSSEL" "LA MARSEILLAISE" "LA MARSEILLAISE”
"BRIANCON"
"BASTIA"
"AURAY"
to Marsellies
to Japan
to Marsellies
FREIGHT SERVICE
1
1st May
23rd June
11th Aug.
22nd Aug.
N. Africa & Europe 31st May .N. Africa & Europe 14th June ...................N. Africa & Europe 18th July
for
PORT SAID, TUNIS, MARSEILLIES, ALGIERS, ORAN, TANGIER, CASABLANCA, HAVRE, DUNKIRK,
ANTWERP & ROTTERDAM,
CIE DES MEssageries MARITIMES
Queen's Building
Tel. 26651 (Three Lines)
THE CHINA MAIL, THURSDAY, MAY 24, 1951.
Firm Tone In London
London, May 23. Most nections of the London Block Exchange' were quietly firm today.
Industriala were in good demand, rimecially, textile slid engineering Issues. Oll shares were well sup- ported, and raiņu amore gold and copper shares were widespread,
Rubber and in stocks were dull.
Financial Times Index 130.00 Asociated Press.
HONGKONG SHARE MARKET
UNION INSURANCE MEETING:
Chairman's Remarks R. L.
On World
Situation
"World conditions today are largely governed by the needs of all free nations to strengthen them-
selves against the shadow of Communism," said NY Cotton
Mr J. F. MacGregor, Chairman of the Union In-
surance Society of Canton, Limited, presenting the report and accounts at the annual general meeting this morning.
these
Prices In Big Sag
New York, May 23. Cotton market bears forced
He added that
efforts, ol £41,739 in Interest and involving
huge expenditure dividends totalling £200,216. under grammoment programmês, | The provision of £100,000 were having varying effects upon now found to be in excess of the conduct of all the Sociow's our requirements for rehabilita-new crop months down $2.50 business.
A dividend of £1.15.0, free of Hongkong tax, was declared.
Proposing the adoption of the Report, and Accounts, Mr Mac- Gregor said:
tion expenses in connection with our Eastern Branches has been released to the credit of Profit & Loss Account.
a bale to the lowest level since mid-December of last year.
Experts say that a host of bearish factors, ignored during the recent
influence.
has reverted a more customary exerting weeks, wero finally
Taxation paid during the year (From Our Concspondent) fortunately become no brighter; year.
The outlook in Asia has un- level than that recorded last
Business on the Stock Ex-in fact, since we last met, It gives me pleasure to in- change this morning was valued attention has been concentrated form you that from the dis- 1 $135,050.50. Noon prices on this part of the world owing tributable profit of £290,000 the and the morning's transac to the decision taken last June Directors recommend payment by the United Nations to cry of an increased dividend of 35/- halt to the spread of aggression per share. The cost of this is Through Korea,
£290,250,
Ulons:-
SHARES DUYERS SELLERS SALES
GOVT. LOANS
35mm (1048). 04 BANKS
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:"
NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA, via SAN FRANCISCO, LOS ANGELES AND PANAMA.
NEXT SAILINGS
Dock
Pinvillent Wheelock LAND, ETC.
HK Hotel IK Land XB S'hai Lond. 1.10 UTILITIES
Tram ..... 114
M.S. "SALLY MAERSK”
M.S. "CORONA"
M.S. "ANNA MAERSK"
M.S.
“ANNA MAERSK”
M.S.
"GRETE MAERSK"
ARRIVALS FROM U.S.A.
M.S. "OLGA MAERSK"
JIK Bank .. 1290
East Asia
101
INSURANCES
Union XD.. 700 701
DOCKS, ETC.
K. What
70
104
$ 6.30
30 31 100 31
May 30
12 12212312
June 14
300 17 11.00 100 11.60
June 30
Star Ferry XD 53
We
C. Light (0)
XD
6.80
C: Light (N)
XD .......
3.00
June. 4
<Light (B)
June 23
Electric
July 24
Telephone
XD
STOREN, ETC.
Dairy
Di 10.20
31.75
2400 m 12
Watson
16%
L. Crawford
231
Wing On
(LK.)
40
10 62
COTTONS
Ewo
2.50
For Freights and Further Particulars please apply to:-
AGENTS:
JEBSEN & CO.
Pedder Building
Tel. Nos. 26661-3,
Recovery Of The
Israeli
Pound
On Free Market
London, May 23.
The Financial Times reported today that the Israeli pound has improved on the free market and ascribed the recovery to the rise of Israeli holdings which had brought a considerable inflow of hard currency.
The Israeli_pound_dropped_in the free market by Feb. 1 to a quarter of its official rate. More recently, it improved by some 10 percent.
Another
Bad Day
The publication said, The tendency of the free market to Lake a rather more optimistle View of the outlook for the Istucli due in large measure to indica- tions that the Israeli Govern- ment has succeeded in materi- ally reinforcing its foreign ex- change reserves."
pound is undoubtedly For
was said to have re- recently some fairly
amount
Israel relved substantial loans in Switzerland and other ised on countrits and a torge amount of
dollars from charitable ap- peals in the United States.
The Financial Times sald, "If the efforts that are being made to raise dollars by loan opera tions in the United States are
Stocks
New York, May 23.
A sinking spell that turned Into an acute setback pulled the stock market down today for the third straight session.
Railroads not only displayed conspicuous weakness bul
elsewhere in the list. successfully discouraged buying
Selling pressure was great despite the net loss.
Transfers
shares.
nover
. were 1,540,000
twenty-
One hundred and Seven issues bit new lows. Only one new high for the year was
as successful as the appeal for recorded-Thomas Steel.
xo ....... 515 5.05 300 / 850 2000 $.38 231 1600 r 2014 1800 64 221)
SHANGHAI CLOSURE
Fore. most among these factors
were the recurring Korean peace rumours, favourable crop news and the resultant expectations for a bumper
crop this year, the
of mills to re- wings of raw cotton sell the
stocks in tre open market and the feeling that trading in the textile markets will be at a low cub for at least a month be cause mills will be too pre-
new
an un-
After transferring £40,000 to General Reserve and £1,000 to provision for Staff Pensions it is World conditions today are ded that the unappro- | occupied with the coming prices largely governed by the needs
balance of profit be under the complicated new of all free nations to strengthen added to the balance carried regulations. themselves against the shadow forward. This will then stand Ring observers noted the re- of Communism. These afforts, at £332,706.
curring spasms of Uquidation involving huge expenditure Turning to the Consolidated
through Commission houses under rearmament programmes, Balance Sheet, you will, I am along
with
the presture from have varying effects upon the sure, note with satisfaction that professional operators and ac- conduct of all our business. The the General Reserve has been tive spot house selling in position in China, which was increased
delivery.
The Cen- to 21,000,000 and December the cradle of the Society 110 that the total consolidated assets sus Bureau reported years ago. is now such that of the Society now exceed expectedly high rate of con-
have found it no longer £12,000,000. In other respects.sumption for April
The œconomical to retain our Branch the figures call for no special
market opened off 3 to 43 points.
July again showed Omce in Shanghai; this was comment. opened in 1808 and constituted
resistance on short covering by OFFICIAL RETIRING
but speculators. the Initial slep in those early
crop months
mct an days
Increased towards
extension our
We are shortly
lose to
our volume overseas. The
of selling Branch was Assistant General Manager, Mr
op small finishing at the end of 1850 and J. W. Alabaster, who is to retire bottom levels for the day. After around the closed our Manager with three Senior in a few days time after more the clos
some traders won- close, members of our clerical staff than 31 years service, We shall dored-about-the possibility of a subsequently arrived in Hong-miss his wise counsel at flead technical
correction. following kong.
Offer and wish him every happi-
four
days ness in the
of sagging prices. In these days of political un-
years ahead. Our General
market The
closed 3 points certain I
Manager, Mr L. B. would assure you Stone returned early this year points lower on other positions. higher on July and 41 to 51 that your Board are constantly from his worldwide tour which alive to the necessity of pro-
Prices closed tecting
here today as was begun shortly after the last the interests of the Annual General Meeting.
The follows: Society and ils Shareholders.
To turn to our Marine Under-schieved much in furthering the October
personal contacts which he made July writing experience, intensive Society's interests in the many March (1852)
December competition has caused a down- territories which he visited, and ward tendency In cargo rates,
factor which
cur thanks are due to him for July was not al- the excellent work he has done,
alr the together unexpected when
I desira to express our appro- Combined Marine
clation and thanks to all-mem- system of rating was
bers of the staff and to our in 1940. Higher costs of labour agents everywhere for the loyal Spot 42-434 and raw materials coupled with support which they continue to 411 und
the cffocis of 41-412
devaluation give. The progressive develop-
The Rubber
Markets
London, May 23. Prices of rubber futures closed here today as follows: Number rubber, to cents
per 15. June
July/September October/December January/March
པ་
-United' Press, SINGAPORE MARKET
Singapore, May 23.
Flull ratas,
Spot
40.06 nominal
43.27-45.30 38.60-3351
30.07-38.00
May
37.58
October
United Press,
NEW ORLEANS MARKET
Closing rate
May 22,
44.91
July October December
July
seconded October
3934-4 of Sterling in 1940 have had, ment of the Society is very March (1162) 3814-19 | and must continue to have largely due to their capabilities May
their effect
upon Hull and energy. repair costs. During 1950 The proposal was
with certain by Mr A. Drummond. Prices of rubber futures exceptions. underwent little closed here today as follows: change.
It was proposed by Mr T. Number 1 rubber, per th.
May June July Number 2 rubber, May 1449-1455 Number 3 Fubber, May 141-142 Spa rubber, unkated 15119-15215 Number 4-rubber-May-1361-107
Black crepe No. 1 nate crepu
14015-54715 |
143-744
J-142
**114-116 356-103 -United Prem.
LONDON TIN MARKET
London, May 23. Prices of tin closed here today at the
the official ond af morning session as follows:- Spot in, buyers Spot tin, weliers
Business done at
Three-mantha tin, buyers
Three-months tin, sellers
Business done at Settlement
45.38
38.39.38.41
28.03
ROYAL INTEROCEAN
• SINGAPORE, JAVA
.
PORTS and MACASSAR
**TJIBADAK"
"VAN HEUT87”
"EASTWAY"
"TASMAN"
"TJITJALENGKA”
"TJIWANGI"
ARRIVALS
24th May .25th May
2nd June 17th June
• For cargo to Singapore and Djakarta.
# To Singapore, Djakarta &Delawan Dell, MANILA, EAST & SOUTH AFRICA and SOUTH AMERICA "TİKAMPEK” "TJIMENTENG"
"RUYS"
JAPAN
"EASTWAY" "TASMAN" "TJIKAMPEK" "TJIBADAK" "VAN HEUTSZ" "TJIMENTENG" "RUYS"
↑ via Manila,
ARRIVALS
In Port.
.In Port
ARRIVALS
..25th May
· ·29th May
LINES
SAILINGS
26th May 31st May+ Otis Jana
22nd June
SAILINGS
19th July
18th July SAILINGS
. 10th July
25th May
20th May
8th June
.10th July
28th June
Agents: HOLLAND EAST ASIA LINE
EUROPE via MANILA
and MALAYA
"ABENDSKERK"
...In
ARRIVALS
Port
SAILINGS 12th Jane
not calling at Manila, Through B/L fasted to Mediterranean and Northern European Ports,
JAPAN "ARENDSKERK"
↑ via Manlis,
ARRIVALS 10th June
SAILINGS 24th Mayt
KINOS BUILDINGNITION EVOKE(072867H
PATTISON ORIENT LINE
LIMITED
19.10
31,62
25.43 bid
United Pres.
DIRECT SAILING TO PUSAN
Due:
II. G. Brayfield and seconded by Messrs. H. Owen Hughes and J. F. MacGregor be re-elected Directors.
-Mc
Mr B. W. Bradbury that New York Sugar
and Mr D. B. Evans seconded G. W. Sewell proposed
Futures
New York, May 23, World sugar futures closed
Whilst we were fortunate in not having been seriously In-
major โร
casualties, valved: nevertheless we participated in nipeg Flood catastrophe in the claims arising from the Win
Spring and in two windstorms in the United States. The swept through Florida, and the Bingham Fastern States in October and Messrs Peat, Marwick, Mitchell tracts. the second hit the the New York and Co.
and the North Eastern Auditory. States in November
area
calamitous damage.
and
were
cousing
Further
ง motion that Messrs Lowe, today 5 to 14 points higher, and Matthews and with sales totalling 264 con-
Coast World
"Benledi."
slightly
be Te-appointed
Trade
Week Begins in percentage that last
losses were suffered in connec tion with Fires on shipboard in the сался of vessels Monarch" Claims
paid Higher 1.135 year,
The
Increase in our premium is to some degree dun 1,103
inflationary
trends and 1,110
these trends are also reflected 1133 in higher figures for general
expenses of management,
Unlied Press.
TEXTILE MARKET
QUIET
New York, May 23. The cotton textile market was quiet with some scatiered selling
·FIRE 'ACCOUNT.
being
Washington, May 23: Observance of World Trade Week opened here today with an exhibit of miscellaneous ex- ports of fourteen countries and luncheon party given by the local Board of Trade for_men- bers of the Diplomatic Corps.
The countries participating in the exhibit set up in the Invol-Commerce Department building
Austria, Brazil, in Dominican
Ceylon, Republic Egypt: Germany, Greece, Italy, Japan, Korca, Norway, Pakistan, Spain and Yugoslavia,
C
ure
The Fire Account, for the first time in our history, shows premium income at more than
£2,000,000. In Canada were fortunate in funds for charitable purposes, 11 Among the stumblers were
ved only to a limited extent should be possible for Israel to Atlantic Coast Line, Santa Fe, of print cloths somewhat under two conflagrations which
Company, United Aircelling levels. The popular 80 murred in Rimouski and Cabano, Freeport Sulphur, square print cloths generally sold whilst the figures of our Lon-
at 25% cents a yard.
don, Australian and New Zea- The wool goods market
wasland
Some of the hundreds of ex- quiet.
shown are Japanese 247.03 Rayon goods were 'steddy
ports textiles and toys, wood carvings 77.93 qulet-Associated Press.
and jewellery from Ceylon, 41.02
machine-tools
and
count on
keeping her
head
above water on the external lines,
to come."
Texas
payments account for
Baltimore and Ohilo. BOTTIC time
Dow Jones averages: The report concluded, "From 65 Stocks now on, the laraell Government 25 Industrials ...... will presumably be more and
15 Rails more concerned with establish-
10 Utuities ing a basically bound external payment position rather thart With raising money needed to cover the persistent defeits. It might be wise therefore, to
to con- sider whether it would not be advisable to make use of the breathing space afforded by the
inflow of dollars and other ex-.
--Associated Press.
Wheat Prices Decline
Chicago, May 29. Wheat futures today closed change resources to establish off to and soybeans were the official value of the currency off 35% to up %. Prices closed
AL
Press,
realistic level."-United as follows-
LOAN OFFER TO
PAKISTAN
Karachi, May 23,
An authoritative source said here today that the World Bank
Wheat-price per buhet
Spat
July
Corn
Spat
July
September December
223 28014+34 1.75% 1.2135-14 2.7034-45 1.02 New York. four-per 200 lb. sack. $12.83-United Press.
PEPPER EASIER
་
Rice Acreage In California
Accounts show record re-
but sults. The Fire Fund now at the impressive total cf over £1,140,000.
Elands
Contract No. 0 closed 4 to 7 points higher, with moles totalling 200 contracte.
July
Contract No. 4 (world)
September
January (1952)
March
May
July
Spot
July
Contract No.
September January (1953)
March
May July Beptember Брат
7.16 traded
7.18 traded
0.20 bid
0.30 traded
-08-bid
1.40
7.10
0,04 traded 5.00 traded 5,09 bla
8.71 nominal
5.70
6.70
8.71
0.00 United Press.
Japanese Bonds
London, May 29,
Japanese bonds
A(4 of 1909)
"B" (40. of 1910) " (5 of 1007) "13" (5#, of 1834) "Eat. 1034)
Consols
The comparatively small mar-¡ Ware, Spanish cork, Bank of America
gin of profit in the Accident & General Account is mainly duc, win
wines, as mentioned in my statement, Yogoslav
leather
United PrRER.
Bank Quotations
Now York, May 23. Closing bank quotations:
***** txki 2014 ced Close National Bank ra đi thì
3 Aloed
454 palced ~~Associated Prem,
liquons and Jocca, goods and to certain adverse factor in Korean textiles and rice. The National City Bank .... 43% bid connection with motor car busi-
State Department also sponsored San Francisco, May 23.
regs. With the removal of ลด exhibit showing the im With seeding completed CX-
of foreign trade to cept in scattered areas, indica-petrol restrictions in certain portance
United States. United tions are that California rice areas, increase in cost of ro
and circumstances pales growers planted up to 30 per
the
cent more acreage than a yearly in connection with motoPress.
aga.--Associated Press.
Copra Market
Now York, May 23.
we cannot look for substan-
any tial margin of profit with,
rates at existing levels. There have heen rate increases, but in many caacs these still have not caught up with Companies' motor car Sellers continued to ask $200 other closes of insurance writ underwriting experience. All per short ton for-copro but, buyers ideas were at $100. The en in our Accident & General asking price for coconut oll Account gave satisfactory re- was lowered 3⁄4%, to 14% cents pound, but there were no taktora, United Press.;
Д
Exchanges In NY
has offered Pakistan a $60,000,-
New York, May 23. 000 loan for developing
The pepper markot ruled dull irrigation
and bydro-electric and eaaler, Bombay oloring projects and for extending and were reported at around $1.02 repairing communication and to 1.03 a pound, including cast rail facilities. The aum would and freight, or 2 to be, a first installment in the above domestic parity. Sales of Delelim financing of the programme, spot stocks were reported at Associated Prest,
$1,00 a pound United Press,
conta
New York, May 43.. Foreign exchange:
Holand Switzerland
10
20.20
13.11.
mulls and the substantial
Ceylon's Trade
With Germany
Bonn, May 23.
A trade agreement between Western Germany and Caylors i was signed in Frankfurt today, crease by 20 per cent In the according premium income is a notable German new an import from
to DPA, the West
nchievement.
Germany
will Turning to the Profit & Loss Ceylon rubber, cupra, Account, additional investments and precious ant semi-precious and the policy adopted by your stones to the value of $22,200,- Baard in recent years, to invest 000. Ceylon will receivo a larger proportion of the machinery, rolled steel,
vehicles, Bociety's funda in Equity Secus electrical equipment, optient
cocoa
rities an offect to Indation, and other apparatus, to the
AB are now reflected in the horcase value of $14,200,000.-
utar.
PETER MOK HIM YICK HONG MACAO
MANUFACTURERS' REPRESENTATIVE
Agent for AUSTIN. CARS
5.S. TAK SHING M,V. LEE HONG
China' Mall: Distributor/
33 RUA V.P. ARGOB
CUM TELE-EJS
Cablas: Petar Macao Agencies invitad
S.S. "LAURE PATTISON"
Salling:
June 2nd. June 6th.
SAILING TO NEW ZEALAND
loading second week June with transhipment cargo accepted for TAHITI, FIJI and SUVA.
S.S. "VALLES"
12-14 Queen's Road C.
Chinese Agents:..
Tel: 25846.
Oversea Chinese Steamship Co., Ltd.
48 Bonham Strand W. Tels: 26646, 28127 & 31119
STATES STEAMSHIP CO.
S.S. "COLORADO"
LOADING ABOUT 10th JUNE
FOR
VANCOUVER, SEATTLE & PORTLAND DIRECT
DODWELL & CO.,
Agents
NOTICE TO CONSIGNEES
0.0. "PYRNUUS?.
Damaged' cargo ex thia Wessel will be hirveyed by Memy, Goddard de
Holt'e Daugise at
Wharf fron 10, LẠY ĐÀ Her là and thi and consignees are requested to have thoir representativas present during the wVEY.,
BUTTERFIELD &"SWELE,
Hongkong, May. 83, `1001.
LTD.
Tel: 28021/6.
St. John Ambulanco Brigado
FREE AMBULANCE SERVICE
Tel, Hongkong
Kowloon
35035
52222